The Malta Gaming Authority (MGA) announced recently that daily fantasy sports is exempt from the requirement of a gambling licence.
This is evidently the first step towards the skill-based licensing framework which will likely take Malta to the centre stage of DFS action in Europe. It should also attract an influx of new operators to the island.
In its press release, MGA stated that in view of the element of skill and knowledge involved in fantasy sports, such an activity should be differentiated from games of chance in terms of licensing and regulation.
Valery Bollier, CEO of Malta-based operator Oulala.com said: ”MGA’s team had foreseen the rise of a future Skill Game industry in Europe a few years ago. Malta has proven to have a very competitive jurisdiction because of its pragmatism and its ability to adapt itself quickly to the sense of history.”
The Maltese gaming regulator, whose main goal is to protect customers, has been working several months now on the licensing framework to regulate skill-based games, including fantasy sports, which will also set the rules for determining whether a game is a ‘Skill Game’ or a ‘Controlled Skill Game’.
Bollier continued: This legal notice is the first step in a process that will see Malta become the first major European country to offer a real skill game licence. It is therefore a very exciting moment for our industry and for Malta.
“Malta being the first major European country to offer a skill game licence means it will attract the attention of the entire European DFS market and place itself firmly at the forefront of the DFS revolution.”
The framework is expected to be passed by the end of this year.